Bic lowers full-year growth forecast

French company Bic, known for its disposable lighters, ball-point pens and razor blades, has seen its sales stagnate over the past six months. The board has immediately lowered its full-year growth forecast.

1.063 billion euro turnover

Bic achieved a 1.063 billion euro six-month turnover (+ 0.3 % compared last year’s first semester), thanks to the Stationary division that grew 3.3 % and is the company’s largest division with a 428 million euro turnover. Distributors responded well to Bic’s novelties for the upcoming schoolyear, the Clichy-based company said.

Bic’s disposable lighters also continue to sell well and contribute 356.9 million euro, up 0.8 %. Its razor blade division did not do as well, as its turnover slumped 4.3 % to 236.4 million euro, mainly because of weaker sales in the United States. By comparison, Europe and the growth markets did display growth for the razor blade division.

Even though its second quarter turnover outperformed the first quarter, the board still dialed back its full-year growth forecast. “As markets remain volatile for the balance of the year, coupled with recent signs of lower consumption in Brazil, we now expect to trend between 3% to 4% Full Year Organic Net Sales growth”, Bic said. Only three months ago, it targeted a 5 % increase, but analysts had already stated that number was far too optimistic. The French group published a 2.026 billion euro turnover and a 249.7 million euro net profit.

In 2018, Shoptalk Europe will combine with Shoptalk U.S. to create the first global event focused on retail and ecommerce innovation. First, however, Shoptalk Europe will be held on 8-11 October 2017 in Copenhagen.

(advertorial) Shoptalk Europe, the event for retail and ecommerce innovation held 8-11 October 2017 in Copenhagen, covers trends, technologies and business models reshaping how consumers discover and shop in an age of digital disruption.

(advertorial) Shoptalk Europe (8-11 October in Copenhagen) is the new event for retail and ecommerce innovation. It covers transformational trends, technologies and business models reshaping how consumers discover and shop in an age of digital disruption.

Dutch European Parliament member Marietje Schaak feels the European Commission should create a better framework for digital trade in and with European member states. Otherwise, major internet companies will decide the standards themselves, she fears.